5 characteristics of innovation

Implementing new ideas is also possible for SMEs. Do not stop analyzing the central aspects of innovation before embarking on an improvement project.

Are you looking to innovate in your business? Implementing new ideas in the products, processes, organization or marketing of the SME requires dedication and effort. Account for these aspects of innovation that can impact your project:



  1. It is not just about implementing new technologies or launching products. A broad concept of innovation refers not only to a change in the product or technology, but also to new forms of organization, marketing or processes. Thus, an innovation may not even be visible to customers, for example, if it is a novel way of managing inventories or managing personnel.


  1. To innovate it is necessary to invest. Although it is possible to innovate with scarce resources (the dream of the great idea that revolutionizes the market without effort!), it is usually necessary to dedicate time and money to the search and implementation of new applications. It can be the acquisition of machines, equipment, materials, services such as design or advice, or man-hours dedicated to the project. As the entrepreneur Santiago Siri puts it in his TED conference: “There was no secret formula. (Innovation) It is effort and perseverance.”


  1. In all innovation there is a significant share of uncertainty. The results of a research and development process, for example, are not easily predictable. When a company embarks on the search for innovations, it has no certainty about the time it will take to reach an acceptable result, the amount of resources it will need to allocate and even the degree of acceptance that a proposal will have in the market. But with risk there is also the potential reward!


  1. An innovative culture is what drives changes. The attitude and behavior of the work group is the true engine of innovation. Thus, it is essential to nurture creativity, encourage teamwork and value the exploration and efforts of your people. “To lead a culture of innovation it is important to recognize that true creative thinking is not solitary,” explains expert Ken Robinson. “And that innovation is more likely to come from the collaboration of people working as a team.”


  1. It includes new knowledge or a new combination of existing ones. No idea is totally new, but it is based on knowledge, innovations or previous ideas, which may come from different areas. Observing, exploring, analyzing and implementing ideas generation techniques can help start the process of innovation in your SME.


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